Mamdani, the presumptive Democratic nominee to be the next mayor of New York City and a self-identified democratic socialist, on Sunday said billionaires contribute to inequality.
My favorite tax policy hack for that last part is for the government to require a billionaire to formally declare the value of each of their assets (for purposes of calculating taxes)… with the stipulation that the government can choose to buy such an asset from the billionaire at the declared value at any time.
My favorite tax policy hack for that last part is for the government to require a billionaire to formally declare the value of each of their assets (for purposes of calculating taxes)… with the stipulation that the government can choose to buy such an asset from the billionaire at the declared value at any time.
Gets to market rate real quick.